Interesting to watch energy get blasted on a day where the USD sells off hard. Even metals reaction is muted. Correlations doing strange things these days. Makes me wonder if we have a regime shift coming.

And oil down on a day where the backwardation continues to steepen and physical markets have narrowed Dated vs frontline Brent to basically zero (flip here would be positive, shows premiums being paid for spot cargos over front months). It’s whacky.